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1 Annual Bond Program Update July 1, 2010 – June 30, 2011 Michael E. Finn, Chief Financial Officer.

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Presentation on theme: "1 Annual Bond Program Update July 1, 2010 – June 30, 2011 Michael E. Finn, Chief Financial Officer."— Presentation transcript:

1 1 Annual Bond Program Update July 1, 2010 – June 30, 2011 Michael E. Finn, Chief Financial Officer

2 PUSD Bond Program Background PUSD is currently managing two outstanding B Bond programs: – $93.5 Million Dollar Program Authorized in 2002 – $120.5 Million Dollar Program Authorized in 2005

3 10-11 Bond Program Reporting Annual Bond Program Update presented at PUSD Board Meeting Website Reporting – Information will be posted after Governing Board meeting PUSD Home Page / Community / Support Services / Building Updates & Construction (B- bonds)

4 Bond Projects Estimated Costs to be Paid From Bond Construct three elementary schools $34,500,000 Renovate existing elementary schools $14,000,000 Renovate Peoria High School $10,000,000 Athletic fields and building improvements to two new high schools $5,000,000 Athletic fields and building improvements to existing high schools $10,000,000 Purchase pupil transportation vehicles $10,000,000 Construct District transportation facility $7,000,000 District wide renovations for District Technology Plan $3,000,000 Total Bond Authorization $93,500, B Bond Authorization

5 10-11 (2002) B Bond Program Activity Beginning Cash Fund Balance $10,400,587 Bond Sale Proceeds $0 Interest Revenue$16, Total 10/11 Cash, Revenue and Other Fund Activity $10,417,251

6 10-11 (2002) B Bond Program Activity 10/11 Available Cash$10,417,251 Less 10/11 Expenditures$0 Student Transportation Vehicles $0 Renovation $0 New Construction$0 Transfer Interest to Bond Debt Service( 16,663 ) Ending Cash Balance at $10,400,587 Unsold Bonds at $0

7 2002 Bond Budget Project Summaries Through Bond Projects Current Project Budgets as of 6/30/11 Original Project Budgets on Voter Pamphlet Project Expenses Through 6/30/11 Remaining & Committed Funds Through 6/30/11 Construct three elementary schools (Vistancia, Lake Pleasant & Elementary #32) $34,466,234$35,000,000$24,065,647$10,400,587 Renovate existing elementary schools $9,727,475$14,000,000$9,727,475$0 Renovate Peoria High School $14,915,868$10,000,000$14,915,868$0 Athletic fields and building improvements to two new high schools (RSK and Liberty) $8,809,475$5,000,000$8,809,475$0 Athletic fields and building improvements to existing high schools $9,268,227$10,000,000$9,268,227$0 Purchase pupil transportation vehicles $6,116,663$10,000,000$6,116,663$0 Construct District transportation facility $7,396,000$7,000,000$7,396,000$0 District wide renovations for District Technology Plan $2,800,058$3,000,000$2,800,058$0 Total Bond Authorization $93,500,000 $83,099,413$10,400,587

8 Bond Projects Estimated Costs to be Paid From Bonds Construct new schools and renovate and improve instructional and operational buildings and infrastructure at existing elementary schools $45,000,000 Renovate and improve instructional and operational buildings and infrastructure at Peoria High School $29,000,000 Construct additions to instructional and operational buildings and facilities at High School #7 $8,000,000 Renovate and improve instructional and operational buildings and infrastructure at other high schools $20,500,000 Complete construction of Transportation & Support Services Facility and acquire pupil transportation vehicles $10,000,000 Provide for infrastructure related to instructional and operational technology and communications needs $8,000,000 Total Bond Authorization $120,500, B Bond Authorization

9 10-11 (2005) B Bond Program Activity Beginning Cash Fund Balance $(3,939,036) Bond Sale Proceeds$35,500,000 Bond Sale Premium$31,065 Interest Revenue$34,013 Total 10/11 Cash, Revenue and Other Fund Activity $31,626,042

10 10-11 (2005) B Bond Program Activity 10/11 Available Cash$31,626,042 Less 10/11 Expenditures(5,046,714) Renovation$5,046,714 New Construction$0 Student Transportation Vehicles $0 Transfer Interest to Bond Debt Service(34,013) Transfer Premium to Bond Debt Service(31,065) Ending Cash Balance at $ 26,514,250 Unsold Bonds at $0

11 10-11 (2005) B Bond Program Activity Renovation – HVAC – Roofing Renovations – Projector Cabling Program – Track Resurfacing

12 2005 Bond Budget Project Summaries Through Bond Projects Current Project Budgets as of 6/30/11 Original Project Budgets on Voter Pamphlet Actual Project Expenses Through 6/30/11 Committed Project Budgets at 6/30/11 Bond Funds Available for Allocation at 6/30/11 Construct new schools and renovate and improve instructional and operational buildings and infrastructure at existing elementary schools $51,227,418$45,000,000$36,708,351$2,567,462$11,951,605 Renovate and improve instructional and operational buildings and infrastructure at Peoria High School $30,620,970$29,000,000$26,781,010 $0 $3,839,960 Construct additions to instructional and operational buildings and facilities at High School #7 (Liberty) $3,303,910$8,000,000$3,303,910$0 Renovate and improve instructional and operational buildings and infrastructure at other high schools $13,720,142$20,500,000$7,078,395$1,719,609$4,922,138 Complete construction of Transportation & Support Services Facility and acquire pupil transportation vehicles $13,516,045$10,000,000$13,516,045$0 Provide for infrastructure related to instructional and operational technology and communications needs $8,111,515$8,000,000$6,433,039$1,678,476 $0 Total Bond Authorization $120,500,000 $ $93,820,750$5,965,547$20,713,703

13 OVERRIDE EXPENDITURES

14 Override Expenditures (FY 2011) Supplement Extra Curricular/Athletics $2.2M Support Smaller Class Sizes $2.1M Support Elementary Specials $5.6M – Intervention Specialists – Instructional Specialists – Art – Band – Gifted

15 Override Expenditures (FY 2011) Supplement Student Support Services $5.7M – Librarians and Assistants – Nurses and Nurse Assistants – Computer Technicians – PAL Teachers Supplement Number of Assistant Principals $2.0M

16 Supplement Extra Curricular/Athletics $2.2M Support Smaller Class Sizes $2.1M Support Elementary Specials $5.45M – Elementary Guidance (formally Intervention Specialists) – Instructional Specialists – Art – Band – Gifted 16 Override Expenditures (Projected FY 2012)

17 Supplement Student Support Services $5.7M – Librarians and Assistants – Nurses and Nurse Assistants – Computer Technicians – PAL Teachers Supplement Number of Assistant Principals $1.6M 17 Override Expenditures (Projected FY 2012)

18 Public Comment and Questions


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